Our 2019 Future of Fashion & Retail Consumer Survey results show that the sharing economy is disrupting fashion and apparel brands – start-ups and established – as well as the retail industry, as they enter the rental subscription services business.
A number of brands and retailers introduced apparel rental services this past year, yet consumer adoption rates remained low. Of the more than 17,000 consumers surveyed, only three percent have used a rental service. Many consumers (39 percent) did not understand or were not familiar with these services, and another 19 percent believe they are too expensive. Despite these findings, the survey found a tremendous opportunity for brands willing to address the interests of their customers and provide affordable options.
Read the full press release here or download the PDF using the form below.